Stockholder Information

Dividends

Dividend Payments

Dividends are normally paid quarterly on the first business day in February, May, August and November to stockholders of record at the close of business on the record date declared by the board of directors.

If you normally receive your dividend check by mail and it does not arrive within 10 days following the scheduled payment date, please contact Computershare at 1 800 351-7221.

Lost or Stolen Dividend Checks

If your dividend check has been lost or stolen or you have not received it within 10 days of the published payment date, please contact Computershare immediately at 1 800 351-7221. A replacement check will be issued.

Once a dividend check is replaced, the original check is no longer valid and should be destroyed.

Direct Deposit

Stockholders may have their dividend checks deposited directly into their bank accounts via electronic fund transfer. The funds will be available on the payment date.

Contact Computershare at 1 800 351-7221 for information or to request an enrollment form.

Investor Services

Direct Stock Purchases

AT&T Inc. provides its stockholders with a low-cost alternative to buying stock through a traditional retail broker. This is the DirectSERVICE Investment Program for Stockholders of AT&T Inc., which is sponsored and administered by Computershare Trust Company, N.A.

Through this program, investors may purchase AT&T shares directly from the company with an initial purchase of as little as $500. A one-time fee of $10, plus a transaction fee of $0.05 per share, will be charged to set up your account.

Your funds normally will be invested within five business days. You will automatically be enrolled in the Full Dividend Reinvestment option, which provides for the reinvestment of all of your dividends into additional shares.

Once you establish an account, you can build your investment through periodic additional purchases of as little as $50 for each investment and up to a maximum of $120,000 a year.

You can make additional purchases by sending a check, or you can arrange for regular purchases that automatically will be deducted from your bank account.

Contact Computershare at 1 800 351-7221 for more information or to enroll. Information and enrollment materials are available online at www.computershare.com/att.

Dividend Reinvestment

Stockholders may reinvest their dividends into additional shares through the DirectSERVICE Investment Program for Stockholders of AT&T Inc. Each dividend reinvestment will incur a service fee of 5% of the amount reinvested, up to a new maximum of $3.00. The transaction fee will remain at $0.10 per share.

This service is sponsored and administered by Computershare Trust Company, N.A.

Contact Computershare at 1 800 351-7221 for information or to enroll. Information and enrollment materials are available online at www.computershare.com/att.

Voluntary Additional Investments

Additional AT&T Inc. share purchases may be made through the DirectSERVICE Investment Program by sending a check payable to "Computershare – AT&T Inc.," along with a completed optional cash purchase form that is supplied with each statement.

Purchase orders are scheduled for processing at least once every five business days. A service fee of $5.00, plus a transaction fee of $0.05 per share, will be charged for each additional investment and will be deducted from the investment.

Contact Computershare at 1 800 351-7221 for more information.

Automated Investment

If you want to make regularly scheduled purchases of additional shares, you may pre-authorize Computershare to make the purchases by electronically debiting your checking or savings account.

To enroll, complete and sign the Direct Debit Authorization Form for Ongoing Automatic Deductions and return it to Computershare at the address on the form. Allow four to six weeks for your first deduction.

When the automatic deductions begin, your account will be debited either on the 15th or the 25th day of the month – or both, if you choose. If these days do not fall on a business day, the debit will be made the next business day. Funds normally will be invested within five business days.

A service fee of $2.50 for each automated transaction, plus a transaction fee of $0.05 per share, will be charged in lieu of the $2.50 additional investment fee and transaction fee, and will be deducted from your investment.

Contact Computershare at 1 800 351-7221 for more information.

Depositing Stock Certificates

If you prefer not to hold stock certificates, you may convert them to uncertificated shares by sending them to Computershare, AT&T Inc.'s transfer agent, along with a letter instructing Computershare to deposit your shares into your account.

The uncertificated form of registered ownership allows you to own shares without holding the actual stock certificates. Uncertificated shares are recorded on AT&T Inc.'s books and have the same rights and benefits as certificated shares, but without the risk of certificate theft, loss or misplacement.

DO NOT endorse the certificates before you mail them.

Your unendorsed certificates should be sent to Computershare via registered mail with a return receipt requested. Insure it for 1.5 percent of the market value (with a minimum stated value of $20). This is the cost to you for replacing the certificates if they are lost in the mail. The package should be addressed to:

The DirectSERVICE Investment Program
Shareholders of AT&T Inc.
c/o Computershare Trust Company, N.A.
P.O. Box 43078
Providence, RI 02940-3078

There is no cost to deposit your stock certificates.

You will receive a notice in the mail confirming that the certificate has been received and converted.

Contact Computershare at 1 800 351-7221 if you have questions.

Withdrawing Stock Certificates

If you want to receive certificates for uncertificated shares held at Computershare, contact Computershare at 1 800 351-7221. Certificates can be issued only for whole shares.

There is no cost to have stock certificates issued to you.

Selling Shares

You may sell uncertificated shares through the DirectSERVICE Investment Program by calling Computershare at 1 800 351-7221. You can also mail in your request, using one of the transaction forms provided with each statement. Or you may place your sell request on the Internet: Go to www.computershare.com/att.

You have two choices when making a sale as follows:

Market Order: A market order is a request to sell shares promptly at the current market price. Market order sales are only available at www.computershare.com/att through Investor Centre or by telephone. A service fee of $20.00, plus a transaction fee of $0.10 per share, or fractional share, will be charged to complete your market order sale.

Batch Order: A batch order is an accumulation of all sales requests submitted together as a collective request. Batch orders are submitted each market day. The price to each selling stockholder will be the weighted average price obtained by Computershare's broker for each aggregate order placed by Computershare.

Computershare will make every effort to place your sale order the day it is received, provided that instructions are received before 1 p.m. Eastern time on a day when securities markets are open. Proceeds will be sent to you by check upon settlement.

A service fee of $10, plus a transaction fee of $0.10 per share or fractional share, will be charged to complete your batch order sale.

Contact Computershare at 1 800 351-7221 if you have questions.

Transferring Uncertificated Shares to Your Broker

You may instruct your broker to move your uncertificated shares electronically; Computershare will not execute transactions if the required information is inaccurate or incomplete. Computershare will mail a transaction advice to you following any activity. The advice will include the date of the activity, the broker who initiated the movement, the account number and the number of shares. You may also contact Computershare at 1 800 351-7221 for instructions.

Registered Ownership

Registered Ownership

Registered ownership – also known as "direct" ownership – means that the beneficial owner of the security is "registered" on the books of the corporation. The registered stockholder is considered the "stockholder of record" and is known to the corporation as one of its stockholders.

Registered ownership may take the form either of physical certificates or of uncertificated ownership. Both types of registered stockholders will receive dividends, communications and financial documents directly from AT&T Inc.

Investors who have purchased AT&T Inc. stock through a broker and who wish to be a registered owner must specifically direct the broker to register the shares with the corporation.

Traditional Stock Certificates

A stock certificate is evidence of your ownership in AT&T Inc. It is a negotiable instrument and should be held in a safe place, such as a safe deposit box, because it is costly and inconvenient for you to replace.

You should not sign your certificate until you sell or transfer your shares.

When you mail in your certificate for a change of registration, always send it by registered or certified mail. You should consider insuring it for 1.5 percent of the market value with a minimum stated value of $20, which is the cost to replace the certificate if it is lost in the mail.

Mail certificates to Computershare at:

AT&T Inc.
c/o Computershare Trust Company, N.A.
P.O. Box 43078
Providence, RI 02940-3078

When you receive your certificate, check all of the information found on the front for accuracy. If you discover inaccuracies, contact Computershare at 1 800 351-7221.

Uncertificated Shares

The uncertificated form of registered ownership allows you to own shares without holding the actual stock certificates. Uncertificated shares are recorded on AT&T Inc.'s books and have the same rights and benefits as certificated shares, but without the risk of certificate theft, loss or misplacement.

AT&T Inc. sends a periodic account statement to uncertificated holders reflecting the number of shares they hold.

Stockholder Services

Replacing Lost Stock Certificates

If your stock certificate has been lost, stolen or damaged, notify Computershare immediately at 1 800 351-7221 so that a stop transfer can be placed on the certificate.

Computershare will send you the forms needed for issuing a replacement certificate.

If your certificates were lost, you will be charged a premium equal to about 1.5 percent of the market value of the certificate (with a $20 minimum). This will be used to purchase a certificate replacement indemnity bond.

Change of Address

If your address changes, notify Computershare as soon as possible to avoid a delay in receiving dividend checks, statements and other important mailings.

You may notify Computershare of your change of address in one of three ways:

  1. Calling 1 800 351-7221 and speaking to a customer service representative
  2. Writing AT&T Inc. at:
    AT&T Inc.
    c/o Computershare Trust Company, N.A.
    P.O. Box 43078
    Providence, RI 02940-3078
  3. Online at www.computershare.com/att

You will be required to create a user ID to gain access to your account on Computershare's Investor Centre at www.computershare.com/att.

Transferring Shares

Transferring Shares to a New Owner

To transfer shares from your account to another person(s) or corporation, please follow these instructions:

  1. Send in the outstanding shares you hold in certificated form. If you are unable to locate all of your certificates, please contact Computershare immediately at 1 800 351-7221 so that they may begin replacement procedures.
  2. Complete a Transfer of Ownership form that can be found on the Computershare Web site at www.computershare.com/att. This document must be endorsed exactly as the shares are registered on the face of the certificate(s) or statement. The signature(s) must be Medallion-guaranteed by an institution such as a commercial bank, trust company, credit union or brokerage firm participating in a Medallion Program.
    1. Include the individual's name or name of the corporation, address and taxpayer identification number under which that cash and stock distributions will be reported. Please note that only one address and one taxpayer identification number can be applied to an account.
    2. Specify the number of certificated, investment plan or uncertificated shares that will be transferred.
    3. If you are transferring certificated shares and there are shares that are enrolled in the investment plan, please indicate whether you choose to have these shares also transferred to the new account.
  3. Please indicate in a letter whether the new account should be enrolled in the investment plan.

Mail all of the completed documents, along with your stock certificates (if applicable), to:

AT&T Inc.
c/o Computershare Trust Company, N.A.
P.O. Box 43078
Providence, RI 02940-3070

For overnight deliveries, mail to:

AT&T Inc.
c/o Computershare Trust Company, N.A.
250 Royall Street
Canton, MA 02021

When mailing stock certificates, we suggest that you send them by certified or registered mail and insure them for 1.5 percent of the current market value (minimum of $20), which is the approximate cost to replace the certificates if they are lost.

Current market value is the worth of shares of a given stock based on an average of the market prices reported on a specific trading day or days. Normally, this price is different from the purchase price.

Adding a Name to Your Account

To add a name to your account, please follow these instructions:

  1. Send in the outstanding shares you hold in certificated form together with a completed Transfer of Ownership form. If you are unable to locate all of your certificates, please contact Computershare immediately at 1 800 351-7221 so that they may begin replacement procedures.
  2. Complete a Transfer of Ownership form. Please include the type of joint ownership under which you would like the securities to be registered. This document must be endorsed exactly as the shares are registered on the face of the certificate(s) or statement. The signatures must be Medallion-guaranteed from an institution such as a commercial bank, trust company, credit union or brokerage firm participating in a Medallion Program.
    1. Specify how the account should be registered, the mailing address, and the taxpayer identification number under which that cash and stock distributions will be reported. Please note that only one address and taxpayer identification number can be applied to an account.
    2. Specify the number of certificated, investment plan or uncertificated shares that will be transferred to the new account.
    3. If there are shares that are enrolled in the investment plan, please indicate whether you choose to have these shares also transferred to the new account.
  3. Indicate in a letter whether the new account should be enrolled in the investment plan, if appropriate.

Mail all of the completed documents, along with your stock certificates (if applicable), to:

AT&T Inc.
c/o Computershare Trust Company, N.A.
P.O. Box 43078
Providence, RI 02940-3070

For overnight deliveries, mail to:

AT&T
c/o Computershare Trust Company, N.A.
250 Royall Street
Canton, MA 02021

When mailing stock certificates, we suggest that you send them by certified or registered mail and insure them for 1.5 percent of the current market value (minimum of $20), which is the approximate cost to replace the certificates if they are lost.

Current market value is the worth of shares of a given stock based on an average of the market prices reported on a specific trading day or days. Normally, this price is different from the purchase price.

Making a Legal Name Change

To re-register your shares as a result of a legal name change, please follow these instructions:

  1. Send in the outstanding shares you hold in certificated form together with a completed Transfer of Ownership form. If you are unable to locate all of your certificates, please contact Computershare immediately at 1 800 351-7221 so that they may begin replacement procedures.
  2. Complete a Transfer of Ownership form. The signature(s) must be Medallion-guaranteed by an institution such as a commercial bank, trust company, credit union or brokerage firm participating in a Medallion Program.
    1. The person who is changing his/her name should sign the Transfer of Ownership form by the "old name" now known as "new name." Any other registered owner of the stock also needs to endorse the stock power.
    2. Include the name, address and taxpayer identification number for the new account.
    3. Specify the number of certificated, investment plan or uncertificated shares that will be transferred.
    4. If you are transferring certificated shares and there are shares that are enrolled in the investment plan, please indicate whether you choose to have these shares also transferred to the new account.
  3. Please indicate in a letter whether the new account should be enrolled in the investment plan, if appropriate.

Mail all of the completed documents, along with your stock certificates (if applicable), to:

AT&T Inc.
c/o Computershare Trust Company, N.A.
P.O. Box 43078
Providence, RI 02940-3070

For overnight deliveries, mail to:

AT&T Inc.
c/o Computershare Trust Company, N.A.
250 Royall Street
Canton, MA 02021

When mailing stock certificates, we suggest that you send them by certified or registered mail and insure them for 1.5 percent of the current market value (minimum of $20), which is the approximate cost to replace the certificates if they are lost.

Current market value is the worth of shares of a given stock based on an average of the market prices reported on a specific trading day or days. Normally, this price is different from the purchase price.

Deceased Stockholder – Single Account

To re-register your shares as a result of the death of the stockholder, please send:

  1. The outstanding shares you hold in certificated form. If you are unable to locate all of the certificates, please contact Computershare immediately at 1 800 351-7221 so that they may begin replacement procedures.
  2. An Affidavit of Residence form for the deceased stockholder properly executed and notarized. This document will confirm the state of residence at the time of death for tax purposes.
  3. The Transfer of Ownership form signed by the Estate Representative(s). The signature(s) must be Medallion-guaranteed by an institution such as a commercial bank, trust company, credit union or brokerage firm participating in a Medallion Program. Include the following information:
    1. The name, address and taxpayer identification number for the new owner(s).
    2. The number of certificated, investment plan or uncertificated shares that will be transferred to the new account.

If you are transferring certificated shares and there are shares that are enrolled in the investment plan, please indicate whether you choose to have these shares also transferred to the new account.

In addition, please indicate in a letter whether the new account should be enrolled in the investment plan, if appropriate.

An original Inheritance Tax Waiver (or Consent to Transfer) from the state where the deceased stockholder lived may also be required. Please refer to the State Inheritance Tax Waiver Requirements table for more specific information.

Mail all of the completed documents, along with your stock certificates (if applicable), to:

AT&T Inc.
c/o Computershare Trust Company, N.A.
P.O. Box 43078
Providence, RI 02940-3070

For overnight deliveries, mail to:

AT&T Inc.
c/o Computershare Trust Company, N.A.
250 Royall Street
Canton, MA 02021

When mailing stock certificates, we suggest that you send them by certified or registered mail and insure them for 1.5 percent of the current market value (minimum of $20), which is the approximate cost to replace the certificates if they are lost.

Current market value is the worth of shares of a given stock based on an average of the market prices reported on a specific trading day or days. Normally, this price is different from the purchase price.

Deceased Stockholder – Joint Tenant Account

To remove a name from a joint tenant account as a result of the death of one of the stockholders, please send:

  1. The outstanding shares you hold in certificated form. If you are unable to locate all of your certificates, please contact Computershare immediately at 1 800 351-7221 so that they may begin replacement procedures.
  2. A certified copy of the death certificate. A certified copy usually has a raised seal or an official stamp.
  3. The name, address and taxpayer identification number for the new owner or surviving joint tenant.
  4. The number of certificated, investment plan or uncertificated shares that will be transferred.

If you are transferring certificated shares and there are shares that are enrolled in the investment plan, please indicate whether you choose to have these shares also transferred to the new account. Please indicate in a letter whether the new account should be enrolled in the investment plan, if appropriate.

If you choose to add a name or transfer the shares to anyone other than the surviving joint owner(s), please have the surviving stockholder complete a Transfer of Ownership form. This document must be signed by the surviving tenant(s) exactly as the name appears on the face of the certificate(s) or statement. The signature(s) must be Medallion-guaranteed by an institution such as a commercial bank, trust company, credit union or brokerage firm participating in a Medallion Program.

An original Inheritance Tax Waiver (or Consent to Transfer) from the state where the deceased stockholder lived may also be required. The waiver should indicate the name of the deceased, the name of the security held and the amount of shares that it covers. It can be obtained from the State Department of Taxation and Revenue. Please refer to the State Inheritance Tax Waiver Requirements table to review the deceased stockholder's state requirements.

Mail all of the completed documents, along with your stock certificates (if applicable), to:

AT&T Inc.
c/o Computershare Trust Company, N.A.
P.O. Box 43078
Providence, RI 02940-3070

For overnight deliveries, mail to:

AT&T Inc.
c/o Computershare Trust Company, N.A.
250 Royall Street
Canton, MA 02021

When mailing stock certificates, we suggest that you send them by certified or registered mail and insure them for 1.5 percent of the current market value (minimum of $20), which is the approximate cost to replace the certificates if they are lost.

Current market value is the worth of shares of a given stock based on an average of the market prices reported on a specific trading day or days. Normally, this price is different from the purchase price.

Transferring Shares Into a Living Trust Registration

To transfer shares into a living trust, please follow these instructions:

  1. Send in the outstanding shares you hold in certificated form together with a completed Transfer of Ownership form. If you are unable to locate all of your certificates, please contact Computershare immediately at 1 800 351-7221 so that they may begin replacement procedures.
  2. Complete a Transfer of Ownership form. This document must be signed exactly as the name appears on the face of the certificate(s) or statement. The signature(s) must be Medallion-guaranteed by an institution such as a commercial bank, trust company, credit union or brokerage firm participating in a Medallion Program.
    1. Include the name of the trustee(s), the date of the trust, the name of the trust and the taxpayer identification number for the trust.
    2. Specify the number of certificated, investment plan or uncertificated shares that will be transferred to the trust(s).
    3. If you are transferring certificated shares and there are shares that are enrolled in the investment plan, please indicate whether you choose to have these shares also transferred to the new account.
  3. Include a photocopy of the first and last page of the trust agreement.

In addition, please indicate in a letter whether the new account should be enrolled in the investment plan, if appropriate.

An original Inheritance Tax Waiver (or Consent to Transfer) from the state where the deceased stockholder lived may also be required. Please refer to the State Inheritance Tax Waiver Requirements table for more specific information.

Mail all of the completed documents, along with your stock certificates (if applicable), to:

AT&T Inc.
c/o Computershare Trust Company, N.A.
P.O. Box 43078
Providence, RI 02940-3070

For overnight deliveries, mail to:

AT&T Inc.
c/o Computershare Trust Company, N.A.
250 Royall Street
Canton, MA 02021

When mailing stock certificates, we suggest that you send them by certified or registered mail and insure them for 1.5 percent of the current market value (minimum of $20), which is the approximate cost to replace the certificates if they are lost.

Current market value is the worth of shares of a given stock based on an average of the market prices reported on a specific trading day or days. Normally, this price is different from the purchase price.